Definition of Mandatory Policies for Individuals and Corporations
Any type of insurance an individual or business is legally required to buy. Compulsory insurance is mandatory for individuals and businesses that want to engage in certain financially risky activities, such as operating an automobile or operating a business with employees.
Compulsory insurance is supposed to protect accident victims against the costs of recovering from an accident that someone else, such as another driver or an employer, has caused. Insurance is regulated at the government level. The government decides what types of insurance will be compulsory and how much coverage policyholders must purchase. Policyholders may purchase higher limits of coverage if they think the compulsory minimums are insufficient.
The compulsory standard Workmen’s Compensation conditions which caver a relatively limited liability of employers to employees / workers for incurred accidents in accordance with the Lebanese Legislative Decree # 136 of September 16th, 1983 should not under any circumstances be construed as an “Employee’s Liability” Insurance. No alterations of the conditions of the agreement or those exceeding the standard wording of the respective insurance coverage of the guarantor will be allowed without prior written authorization of the company.
Territorial LimitationsThe cover of the Workmen’s Compensation policy is limited to Lebanon. For any extension of the territorial outside Lebanon refer to the guarantor.
Underwriting Limits per PersonThe underwriting limits are based on the scope of protection limits valid under the Legislative Decree in force. The benefits in detail provided under the law include medical expenses reimbursement and compensation for total or partial permanent and / or temporary disability and / or death in accordance with the stipulations of this decree. For workmen less than 16 years old and over 64 years old, prior written authorization to be obtained from the company.
DEATH (ARTICLE 6)
BASE 500 DAYS
Calculation of the Indemnity:
100% of the minimum daily salary
25% of the 2nd portion of the daily salary up to an equal amount of the minimum daily salary.
12.5% of the remaining portion of the daily salary.
The total of the above * 500 days represents the indemnity due.
This indemnity is payable in full regardless of family status.
PERMANENT TOTAL DISABLEMENT (ARTICLE 3)
The same as above for the calculation of the daily salary
The total of the above * 800, 700, or 600 days depending on the age of the employee
16 – 35 years ---> 800 days
36 – 50 years ---> 700 days
51 – 64 years ---> 600 days
PERMANENT PARTIAL DISABLEMENT (ARTICLE 4)
In accordance with the scale of disabilities forming an integral part of the legislative decree # 136. The concerning percentages are payable on the basis of the indemnity allowed under the permanent total disablement in ARTICLE 3 mentioned above.
TEMPORARY TOTAL DISABLEMENT (ARTICLE 5)
The compensation for an incapacity is payable from the next day following the day of the accident up to 9 months at the furthest.
The daily indemnity is limited, however, to 75% of the last daily salary / wage.
MEDICAL EXPENSES (ARTICLE 19)
Principally these are payable in full under third class hospital treatment, as well as the outpatient expenses provided customary and normal.
MAXIMUM PER ANY ONE EVENT
A maximum limit per any one event should be stipulated in the policy (as per the maximum per event table herewith attached). The scope of cover and its concerning limits may in no case be extended beyond the respective insurance.
About Travel Insurance
Travel Insurance cover travellers for:
Loss of Luggage.
Medical Expenses coverage under the travel insurance policy only covers emergencies due to accidents or non-preexisting conditions. (A Pre-Existing condition is any case the insured has previously treated or presently treating.)
Travel Insurance Coverage is activefor 90 consecutive days only in the same foreign country, even if the policy validity is for one year. Medical Fees Coverage is based on direct billing (insurers paying the health providers directly) subject to eligibility.
The major factors influencing the premium are:
Country of Destination.
Waiver of Medical Expenses Deductible.
Medical Expenses Coverage Ceiling.
Addition of Personal Accidents coverage.
Coverage of Hazardous Sports.
Compulsory Motor Insurance
About Compulsory Motor Insurance